Global Shares Mixed Monday 11/18 06:16
Global shares were mixed Monday in cautious trading after Wall Street closed
the week with new milestones as the Dow Jones Industrial Average crossed 28,000
for the first time and the S&P 500 and Nasdaq hit record highs.
TOKYO (AP) -- Global shares were mixed Monday in cautious trading after Wall
Street closed the week with new milestones as the Dow Jones Industrial Average
crossed 28,000 for the first time and the S&P 500 and Nasdaq hit record highs.
France's CAC 40 slipped less than 0.1% in early trading to 5,938.87, while
Germany's DAX rose almost 0.1% to 13,252.40. Britain's FTSE 100 was little
changed, inching up to 7,303.90 in early trading.
U.S. shares were set to drift higher with Dow futures gaining 0.3% to
28,023. S&P 500 futures were up 0.2% at 3,124.50.
Japan's benchmark Nikkei 225 edged up 0.5% to finish at 23,416.76.
Australia's S&P/ASX 200 fell 0.4% to 6,766.80. South Korea's Kospi was little
changed, slipping less than 0.1% to 2,160.69. Hong Kong's Hang Seng added 1.3%
to 26,665.26, while the Shanghai Composite was up 0.6% at 2,909.20.
"Market focus this week will still lies on the U.S.-China trade talk, and
updates in Hong Kong. Hong Kong's domestic economy is on the verge of a
recession as the recent riot has adversely hurt its retail, service, tourism,
aviation, education sectors and has caused severe reputational damage to the
city as one of Asia's most important financial hubs," said Margaret Yang Yan,
analyst at CMC Markets in Singapore.
On Wall Street, health care and technology stocks powered most of the broad
rally, which helped drive the S&P 500 to its sixth straight weekly gain. The
Dow extended its streak of weekly gains to four.
Investors have been encouraged by surprisingly good corporate earnings,
three interest rate cuts by the Federal Reserve and data showing the economy is
still growing solidly.
Hopes that the U.S. and China can make progress in their latest push for a
trade deal have also helped keep investors in a buying mood.
Traders hope the world's two biggest economies can make a deal before new
and more damaging tariffs take effect next month. Beijing is pressing
Washington to roll back tariffs as part of a potential deal that the nations
are trying to hammer out.
Benchmark crude oil added 18 cents to $57.90 a barrel. It rose 95 cents to
$57.72 a barrel on Friday. Brent crude, the international standard, rose 9
cents to $63.39 a barrel.
The dollar rose to 108.91 yen from 108.70 yen Friday. The euro strengthened
to $1.1063 from $1.1033.